• Most Popular
  • Most Shared

UPDATE 1-U.S. regulators close banks in Nevada, Illinois

Fri Feb 27, 2009 8:13pm EST

(Adds number of banks closed previously this year)

Regulatory News  |  Bonds  |  Funds News  |  ETFs News

WASHINGTON, Feb 27 (Reuters) - U.S. regulators closed Security Savings Bank in Henderson, Nevada, and Heritage Community Bank in Glenwood, Illinois, the Federal Deposit Insurance Corporation said on Friday.

Heritage, which had four offices, had total assets of $232.9 million and total deposits of $218.6 million as of Dec. 5, 2008. It will be acquired by MB Financial Bank.

Security Savings Bank, which had two offices, had total assets of approximately $238.3 million and total deposits of $175.2 million as of Dec. 31, 2008. It will be taken over by the Bank of Nevada.

The seizures bring to 16 the number of banks closed in the first two months of 2009. That would be up from 25 in 2008, and just three in 2007. (Reporting by Diane Bartz; Editing by Gary Hill)



More from Reuters

Chairman of the Federal Reserve Ben Bernanke testifies before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington July 22, 2009. REUTERS/Kevin Lamarque
John Kemp:

The Fed needs a new storyline

It's irrelevant whether the Fed sells its assets back to the market. What matters is whether and when it's prepared to raise rates.  Commentary 

A worker drives a Toyota Motor Corp's newly assembled Prius hybrid vehicle onto a trailer near the company's plant in Toyota, central Japan February 9, 2010.REUTERS/Yuriko Nakao
Reuters Breakingviews:

Toyota's troubles in overdrive

The cost of Toyota's recall nightmare is nothing compared to the price of fixing its battered reputation.  Commentary